Taiwan Business Quick Take

Staff writer, with CNA

INSURANCE

Drunk-driving fees start: FSC

People caught driving under the influence of alcohol in Taiwan will now pay higher vehicle insurance rates, the Financial Supervisory Commission (FSC) said yesterday. Starting today, drunk-driving offenses will join the records used to calculate the following year’s motor vehicle insurance rates, the commission said. Under the new measure, a penalty of at least NT$2,100 (US$69.27) per offense will be added to the driver’s annual insurance premium, with no cap on the number of penalties, the commission said. It said the higher insurance rates will apply to all vehicles registered in the name of the drunk driver. In the period from 2009 to 2011, Taiwan recorded 14,000 cases of injury or death in drunk-driving accidents, according to the National Police Agency. On average, there were 418 drunk driving fatalities per year during that period, the agency said.

MANUFACTURING

Outdoor LED outlook shines

The global outdoor LED lighting market will grow substantially over the next few years amid increasing public awareness of sustainable development, a market analyst said. Shipment volume and market growth will maintain a compound annual expansion rate of at least 20 percent until 2017, Wang Ting, an analyst at LEDinside, predicted earlier this week. “LED streetlight solutions are maturing and city governments have proven ... that LED lights are energy-efficient, environmentally friendly and long-lasting,” Wang said. It also helps that prices have dropped, she added. In general, strong demand will continue in North America, China and Europe, but growth rates in these regions will slow due to budget cuts and high market penetration, she said. In Latin America, growth will soar, Wang forecast.

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